I would like to begin by expressing my most sincere gratitude to fellow shareholders for their continued support of our long time vision of not diluting the Company through sound management, while trying to achieve some major accomplishments. To the few Shareholders and Insiders who accumulated over the years enough shares to own 50% of our public company, I share my vision with theirs for taking the risk of having such a large position in Glen Eagle.

2017 was a year full of significant changes and challenges as we have prepared a robust foundation that will enable us to effectively bring our vision to life as we reflect on the many opportunities borne and advancements made this past year. This trend continues today with our new ball mill finally operational.

We are confident that 2018 will be a year of considerable growth for the Company based on the knowledge and technical in-house data acquired over the last quarter by visiting several mining sites in the vicinity of our gold processing plant. We believe that Cobra Oro has secured enough mineral with various providers to feed its ball mill throughout the year and possibly for many more to come. Although the data remains non compliant with NI 43-101 reporting, the Company feels strongly about the outlook with its providers.

Our patience has been tested many times by this long lasting bear market in our industry; but I strongly believe that our vision will prevail in 2018 and our patience and expectations will finally be rewarded.

Sincerely

Jean Labrecque

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